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Apartment Demand Increases as Baby Boomers Fight Gen Y For Life-style

Posted: November 27th, 2013 | Author: | Filed under: Apartment Stalker, Australian Home Prices, Real Estate News | Tags: , , , , , , , | Comments Off on Apartment Demand Increases as Baby Boomers Fight Gen Y For Life-style

Baby Boomers vs Gen YOne of the most significant social changes in the past 30 years has been our aging population, over the coming decades this aging will polarize, affecting not only the lifestyle choices of the greying population, but the economy of successive generations as well. As Baby Boomers seek to downsize responsibility, are they biting at chunks of the property market also sought-out by Gen Y?

A decade ago a house on a quarter acre block might  have been the dream lived out by the average Aussie Baby Boomer, but new research suggests they are increasingly looking at apartment living, the same corner of the market chased by their grandchildren.

Policy-makers, planners and developers need to get creative as two generations converge on the same portion of an already under-stress property market.

The Australian Bureau of Statistics – ABS – projects that population growth will see an even higher demand on housing, the converging generations – Baby Boomer vs Gen Y – has the potential to kick-start a steep rise in apartment prices unless developers start planning for seriously increased demand :: Read the full article »»»»


DOMAIN :: Young Folk Feeling Housing Stress

Posted: April 24th, 2012 | Author: | Filed under: Favorite New Thought, From The Web | Tags: , , , , , | Comments Off on DOMAIN :: Young Folk Feeling Housing Stress

Young Folk Feeling Housing StressDomain.com.au’s Chris Zappone has an excellent piece on the stress young folk are dealing with in what can only be described as a volatile property market. Young people are bearing the brunt of Australia’s high real estate costs and are much more likely to encounter “housing stress”, according to new research.

One in five Australians aged 15 to 24 spend more than 30 per cent of their income on rents and mortgages, compared to just one in 10 for the overall population, the National Centre for Social and Economic Modelling has found.

Monash University student Hiba Casablanca pays around half of her weekly income on housing costs for her shared student house in Melbourne :: Read The Full Domain Article Here »»»»

RELATED:
:: First Home Buyers

:: Mortgage Stress 


Failed Storm Financial Mansion Sold

Posted: November 30th, 2011 | Author: | Filed under: Australian Home Prices, House Stalker, Real Estate News | Tags: , , , , , , , | Comments Off on Failed Storm Financial Mansion Sold

The Townsville mansion of failed Storm Financial founders Emmanuel and Julie Cassimatis has been sold.

Storm Financial Mansion Sold

Storm Financial collapsed in 2008, leaving dozens of clients owing thousands in margin loans. The Melton Terrace home, belonging to Storm Financial founders Julie and Emmanuel Cassimatis, sold for an undisclosed amount yesterday. It had been on the market for more than three years. Mr and Ms Cassimatis are facing civil proceedings in the Federal Court by the Australian Securities and Investments Commission. Their assets have not been frozen.

Related: www.renovationplanning.net.au/storm-house-passed-in/


Storm House Passed In

Posted: November 19th, 2011 | Author: | Filed under: Australian Home Prices, House Stalker, Real Estate News | Tags: , , , , , , | 1 Comment »

Cassimatis Home

UPDATE: Around 50 people attended the auction of Storm founders Emmanuel and Julie Cassimatis home in Townsville today, the luxury home was passed-in. With only four bidders registered and only three bids for the property – $1.2 million from a phone bidder, a $1.3 million auctioneers bid and the final $1.35 million bid by a local buyer via telephone. Ferry Property agent and auctioneer Garry Byrne said the Cassimatis’ set an undisclosed reserve – $2 million – and were now open to offers from interested buyers.

According to the Courier Mail (newspaper) the agent has been instructed to sell the property and expects the house to be under contract by Monday.

“We have five or six people interested in the property that we will now negotiate with,” Mr Byrnes said.

“We received a number of conditional bids prior to the auction so we expect we will have a contract signed by Monday.” The five bedroom monolith, which has panoramic views of Townsville city and Magnetic Island, was initially listed for $3.85 million in 2006. The couple’s financial advisory company, Storm Financial Services, collapsed in 2009 , unable to pay its debts, leaving hundreds of clients out of pocket.

Original Post: The luxury home owned by the directors of failed north Queensland investment company Storm Financial, Emmanuel and Julie Cassimatis, will be auctioned this weekend. Storm Financial collapsed in 2008, leaving dozens of clients owing thousands in margin loans. Mr and Ms Cassimatis are facing civil proceedings in the Federal Court by the Australian Securities and Investments Commission (ASIC). Read the full article »»»»


House Prices Keep Falling Across Australia

Posted: August 5th, 2011 | Author: | Filed under: Australian Home Prices, Real Estate News | Tags: , , , , | Comments Off on House Prices Keep Falling Across Australia

Home prices in Australia’s capital cities eased 0.2 per cent in June, the sixth straight monthly decline. RP Data – Rismark’s Hedonic Home Value Index shows prices in the capital cities have now slipped 2 per cent over the past year.However, the modest average national fall in home prices masks considerable variation across the capitals :: Read the full article »»»»